U.S. Chamber Urges Final Push for Singapore Free Trade Deal

WASHINGTON, DC — The United States Chamber of Commerce today expressed its support for the Office of the U.S. Trade Representative as it goes through final rounds of negotiations with Singapore to secure a Free Trade Agreement (FTA) and urged the administration to hold firm until the deal is complete.

"Significant progress appears to have been made on a comprehensive agreement that lowers current Singapore trade barriers," said Myron Brilliant, Chamber vice president for Asia. "But any agreement must bring tangible improvements for American companies seeking access to Singapore's market and ensure that U.S. interests are represented."

Bilateral trade between the United States and Singapore reached $33 billion last year. Globally, Singapore is the 11th largest U.S. export market and the United States is the top export market for Singapore. The outcome of this agreement will likely have lasting impact in future trade liberalization in the rest of the Asia-Pacific region.

The final agreement will contain new provisions required following this year's passage of Trade Promotion Authority and the remaining issues include some of the most contentious subjects, according to the Chamber. Those issues consist of labor and environment provisions, investment, intellectual property rights, competition, and access to the services markets.

"Negotiators will likely consider labor and environment provisions in this round and there's no telling how Singapore will react," said Brilliant. "It is inappropriate to incorporate trade sanctions in the FTA to enforce labor and environmental policies."

As a leader of the US-Singapore FTA Business Coalition, the Chamber will consider a lobbying campaign in support of a U.S.–Singapore FTA and will carry its messages directly to Singapore's Prime Minister Goh in a private meeting at the APEC Leaders meeting in Los Cabos, Mexico, later this month.

The U.S. Chamber of Commerce is the world's largest business federation representing more than three million businesses and organizations of every size, sector and region.

###

02-161